Adobe said CEO Shantanu Narayen will step down as CEO after a successor has been named, and remain as chair of the design software company's board. Shares tumbled 7% in extended trading. Narayen joined Adobe in 1988 as a vice president and general manager, and he became CEO in 2007. Under Narayen, Adobe pushed from software licenses to subscriptions to its Creative Cloud application bundle, and the company is now working to expand through generative artificial intelligence. He sought to acquire